Another Case Study for Why I Tell People NOT To Do This! 

Signing over a deed before getting your name off the loan is so exceptionally stupid I can't even wrap my head around it.

I love when Dave lets people have it! THIS is why you don’t do married people stuff with someone you’re not married to!

For the one sided haters. Dave GIVES the same advice to both men and women and that is DO NOT BUY A HOUSE WITH SOMEONE YOU ARE NOT MARRIED TO. So just stop with the crying, Dave says this to women and that to men.

SPEAK THE TRUTH DAVE! People don’t want to hear it because they ALWAYS feel “they are” the exception 🤦🏾‍♀️🤦🏾‍♀️🤦🏾‍♀️

My son thought it would be a good idea to buy a house or condo with a friend. Thank God i talked him out of it.

I always say, don't be a nice guy... be a kind man. Huge difference.

I'm so glad that when I purchased my house as a single man, the property is entirely in my name, both the mortgage and the property deed. I have no money problems nor relationship problems.

As Judge Judy said : there are real estate courts, family courts, mental health courts but not courts for people who shack up. Never purchase anything that way. It will wreak havoc in your life and it has a ripple effect.

If you aren't married, no shared finances, no shared bed, no shared home. Let's make morals popular or normal again. If you aren't ready to get married, then you aren't ready to play house either. It's a better way to live.

Also, don’t have a kid with somebody you’re not married to

I learned this the hard way many years ago. I was living in CA where real estate was expensive and interest rates were high at the time. A friend and I went in together and bought a house. Long story short, it turned into a complete nightmare, ending in foreclosure

OMG, this guy was SUPER stupid to allow them to take his name off the deed and not the loan! You cannot get any equity, you no longer own any part of it!

The stupidity here is absolutely off the charts. And in the bigger picture, SO many people ruin their lives by ignoring the most basic rule for life: Don't have sex with someone you're not married to!

This guy is insane. Sixteen years he’s been dealing with this? He should have called a lawyer day one.

Everything about this guy is a lesson in what not to do. Kids without being married, buying houses without being married, and who knows what else with all the pauses and hesitation in this guy's voice....

As dumb as I am, these calls make me consider myself to be a genius.

He has $50k saved up. I just happen to have the deed to the Brooklyn Bridge and will sell it for $50k. This poor guy seems like the perfect customer.

From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.

2years ago I paid off my mortgage and I can still remember my husband sending me a text message to say we were lucky making and taking the decision that's getting us $35K every month. Paying the mortgage felt like a noose lifted off our neck after 6 years of worry. Marry before buy a house together folks

Never buy a house with someone you are not married to. Period. No exceptions. If you are not committed enough to each other to get married, why would you think that you should tie your lives together through a piece of real estate?

He says he wants to "move on" with his new family. I wish they would have asked if he was married to this woman or did he repeat the same mistake?

Never buy a house with someone you aren't married to! I made that mistake in my twenties and it's one of the biggest regrets of my life.

I won’t marry you! Let’s buy a 30 year mortgage instead! 😂😂😂🙄🙄🙄🤦🏾‍♀️🤦🏾‍♀️🤦🏾‍♀️

How is someone making over $100k/year this dense...keep the mortgage but sign over the deed???

He will have to take them to court as it is clear they have been taking him for a ride and do not want to give up their gravy train.

Tell them that you will stop paying the mortgage if your name isn't on the deed or you will let the home go into foreclosure and nobody gets anything. $400k in equity is no joke to throw away...

Same goes for siblings. If things go south you'll spend the rest of your life dealing with them at family stuff, which makes it hard to be objective.

My parents went in on a mortgage for my brother and his wife. Ten years or so later she divorced him. He had a crappy attorney and had been brainwashed for years by her, so she got everything in the divorce, including his portion of the house (since he wanted to keep a roof over his kids head), and he kept paying the mortgage. So my parents were still partial owners (as brother didn’t tell anyone until divorce was finalized). Brother remarried, (even after my dad told him he was a glutton for punishment😂). Eventually brother and wife2 got tired of paying mortgage, and eventually gave ex wife money to get him off mortgage. Parents never got a dime back, even when she sold the house.

Play stupid games, win stupid prizes.

Dave, of course, is right about the financial situation. The whole situation underlines one of the most basic corrupting aspects of our society. Immorality No sexual relations except between a man and his wife accompanied with lifelong fidelity, and most of these problems go away. Instead, marital fidelity has completely left our public discourse.

Never purchase a house with a person that is not your spouse. I wonder how the person that he is involved with now feels about all of this.

He was supposed to mention the daughter in the beginning lol 🤦🏾‍♀️

This guy set himself up for a disaster. Yikes. The in laws are gonna do whatever they can to keep him on that loan. They need him.

I know somebody that co-signed on a car loan. The automobile is now wrecked and they are having to deal with insurance and all the fun on this. I cannot imagine how terrible it would be co-signing with someone else on a mortgage in San Francisco! San Francisco has very expensive real estate. Do not co-sign UNLESS you are willing to pay. 95% chance you will be paying your money for their loan with a co-sign.

I can't think of anything he could've done to make this worse. He did every wrong thing possible.

Would like an update as to how this unfolds.

"We'd like to loan you $40k, but you have to..." "No."

He had one life time commitment that no law can break and another one that needed a new contract to be broken but god forbid they go to the court and get a marriage license

And the plot thickens. That's an understatement.

Who pays this guy 150K to 200K? I'd like a job with that company. And he only has 50K in the bank.

Why would the parents do anything? He gave the house to them, and he pays the mortgage payments, it's the perfect scenario for them.

Has he been paying child support? That might be why the grandparents are not signing over the house because that might had been the only other leverage they had

I love your videos, but the best investment you can do right now is to invest in Forex trading, I'm saying this because since I started trading I've seen a difference..

I’ve been watching parts of the Ramsey show for the past couple years I’ve learned a couple things but very little Most of the things you teach are actually just part of good parenting This baby step thing I don’t know where I got it, but I’ve lived like that all my life long before I ever heard of you I bet most of these people you talk to their parents had the same problems Poor money management But glad you’re helping them. Somebody need to straighten them out. ; ) Live below your means I’ve been saving money since before I got out of high school

Imagine how hard they were all laughing at him when he signed over the deed without forcing a refi.

He shouldve started with the daughter bit... that would be the big factor on the parents decisions. Theyre pushing the loan as a way to force obligations to him.

If you make 150-200K, how is it possible you only have saved 50K?

What about his daughter? Did he raise her? Did he pay child support? Where is going to go when the house is foreclosed?

Thats on him. I dont feel sorry for him

Important question was not asked; who has been paying for the mortgage?

Things can turn out pretty badly when a wife wants to divorce her husband and take the house. But buying a house with a woman you are not legally married to is just plain stupid.

As the kids say, "Congratulations, you played yourself."

Never buy anything together unless you’re married.

He did a quit claim deed and left his name on the mortgage note. Geesh that was the worst move!

I did this with an ex years ago, but on a car loan. I was only 20 at the time so that's my excuse. She started being late on payments and dinging my credit. I was getting stacks of letters and threats to reposess the car. I tried to work with her to pay it off but she wouldn't talk to me. Then I tried to have the car transferred to my name (so I'd make the payments instead), but couldn't do anything since my name wasn't on the title. Never again.

This story is EXACTLY why you don't "play house" with someone you aren't married to, regardless of how much fun the free nookie is. What a mess!

Made the mistake of "shacking up" years ago. My ex signed a quit claim deed then immediately moved out. Like 2 months later she tried to stonewall me on a refinance to get some equity in the house (which she lived in for 4 months tops and never paid a bill for.) If she hadn't signed that deed first it could've been much worse.

The fact that he left out their daughter until he had to mention it suggests there's more to this story..

Should have seen a lawyer before you took your name off the deed

They are not your in laws!

This call makes me feel SOOO much better about myself

I wont even do that with my wife's parents, much less a girl friend's parents.

Regarding this guy, he is a MESS!! Another person that is sharp in their career and makes a strong income but is lousy at managing their personal life. I have no respect for that type.

Did he say who is paying the mortgage payments?

I had the exact same problem after a divorce. Bankruptcy fixed it and forced me to save up rather than running off credit. Was a great learning experience.

Why are you talking to Dave and not an attorney?!?!?😮

Worst part is that the title has to be changed prior to the bank removing signers from the mortgage. I had this problem with getting my dad removed from my mortgage. Had to update title first and it was backlogged like crazy at the time. Decided to quit my job and renovate my house to sell as I didn't like my job. I told my dad I wouldn't leave him on the mortgage for long and now without a job I couldn't qualify for the mortgage, so my only choice was to fix my place up and sell it. During the 2 years it took me to complete, my dad had many mental breakdowns due to various reasons and blocked contact with me 1 week before I finished. It was a nightmare. Thankfully after what seemed like an eternity (about 1-2 months), he was persuaded to sign by my mother. Never ever in my life would have thought that would have happened and I hope my story can be a warning as to the risks of co-signing, more specifically - joint signing (meaning both parties are on title)

He makes $200k a year and borrowed $40k to put down on a $200k house? This isn’t adding up.

Of course San Fran, where all the "smart" people keep trying to reinvent the wheel.

Are these people paying the mortagage? Question 1.

I'm assuming they have been paying the mortgage for 16 years as well, maybe I'm wrong, but that's the impression I got. That means they are due a lot more than $50,000 for the house. They are likely due their original $40,000 plus half of the paid off value of the home, and any equity it has gotten in 16 years from market growth. If he sues them he is only due the loan balance in a forced sale since he had himself removed from the deed. He doesn't own the home at all.

They used him from the beginning unfortunately 😅👀

I love how he waits until halfway through the call to drop the bombshell. 🙄

So much stupid yet this crap is so common as well.

Then he mentions the daughter 😂

Interesting he put his daughter LAST in his list of variables.

He not only bought a house with someone he wasn’t married to he had a kid with her! Dumb dumb dumb!

After making the dumb mistake of getting the house with a girlfriend, he made another dumb mistake of not hiring a lawyer to help him get out of it. 🎉

How absolutely dumb. People are so financially naive

Oh... so, at 3:15, we hear the rest of the story: The ex-girlfriend is the mother of his daughter, who just graduated high school. Reading between the lines: He must've left when his child was 2. He never married the mother, so he never had to pay alimony - only child support. On the call, he never says he made payments on the mortgage. His ex or her parents must've been making the payments. Maybe he didn't fight hard to remove his name because his daughter was growing up in the house. Now, his daughter is 18, the house has renters, and he has a "new family."

How is it that 90% of the callers are making well over the national average

So glad this can’t happen in my country. It would be really difficult to have loan but no title.

Never buy a house with someone you’re not married to.

As a kid being practical about money management, I put some in the bank and some in my pocket When my pocket was empty, I went home ; ) Takes a certain individual to manage their money properly It’s not easy, but you have to be determined and set standards for yourself

Has he been paying for the house, or have they? I don't think he would have much right to the equity in the home if they've been paying the mortgage, but it is in his name. This is a screwed up situation. Yes, NEVER buy a house with someone you're not married to, or if you do make sure it there is some kind of agreement done through a lawyer about how everything would be split up, etc if your partnership goes bad.

What kind of idiot would take their name off of the title before the loan??

Has he been paying child support for this kid? Is he legally married now with kids? Sixteen years and 'we've got around $50K' saved. Anything else in the woodwork?

Do whatever it takes, even if repeating step 3 is required.

Marriage is a contract that has a ton of default terms you have little say over without a prenup agreement. People make partnership agreements with their business all the time. If yo buy property together you can put in basic provisions to sell the house upon the Dissolution of the partnership. It’s a little more work and expense but very doable. Folks don’t want to get married because the government has in place undesirable terms. Places like France have marriage contracts that have various legal protections for asset division. We need a more robust marriage contract that has clear terms and options to choose between at the outset.

Copyright law is pretty simple...in the US, if you write it, it is your property. The issue comes into proving it, you can "register" to show public proof of the work

I knew what it was just from the video title. Bad bad bad idea.

Ken got yelled at by Dave….Look at his Face at the beginning of the Call OR his Panda Express Order is Late…

This is so painful I can’t listen to it painful how stupid people are if you’re gonna live with somebody let the house be in either their name or your name you’re not married don’t put it in both names

Buying a house when married can also put you in a bad situation as well. Some states have some messed up divorce laws.

Bless his heart

I’ll buy a house with you too lmbo 😂

"I am on a mortgage for a house I bought with the girlfriend, I broke up with her and deeded the title to them. I want my name off the mortgage." Can you talk to them? "I did at my daughter's graduation." You have a child with this mom, that you broke up with 15 years ago, she just graduated highschool(18yr old). Now it is a larger mess. OMG....

Free house of course they don’t want to get a mortgage in their name 😂😂😂

If you cannot articulate the problem statement/situation within 30-45 seconds, then you are talking too much

There was a time when having a child out of wedlock had great shame attached to it, which I think was a good thing. The child is best positioned to be brought into a family with married parents, but now it's all about the parents and what they want and feel is best for themselves. I never dated a girl born out of wedlock or a girl raised by divorced parents. The statistics show a perilous path for such children.